Money Laundering: EFCC Partners Ghana’s Financial Intelligence Centre

The Economic and Financial Crime Commission, EFCC, has expressed its preparedness to assist the Ghana Financial Intelligence Centre, GFIC, in its efforts to effectively supervise and monitor Designated Non-Financial Businesses and Professions, DNFBP, in Ghana.

The offer of assistance came on August 14, 2018 through Head, Special Control Unit against Money Laundering, SCUML, Bamanga Bello, who represented the acting EFCC Chairman, Ibrahim Magu, during a working visit by a delegate from the GFIC to the EFCC’s Head Office Complex, Abuja.

Leader of the delegation and Head, GFIC’s Analysis Unit, Lucy Abebrese, noted that the visit was “to learn” best practices, from Nigeria.

“We noticed that Nigeria had set up the SCUML, which is doing well, and already has in place best practices, which a lot of countries are looking up to,” Abebrese said.

Abebrese added that the Ghanaian government established the Anti-Money Laundering Unit of the Ghana Revenue Authority, in order to monitor the activities of DNFBPs.

“Many businesses are not regulated in any way and they form a very large sector of our economy, so the Assessors made a point that there is a need for Ghana to set up an institution that will regulate, supervise and monitor these institutions for their Anti-Money Laundering and Combating Financing of Terrorism, AML/CFT, compliance in Ghana,” Abebrese said.

According to Bello, SCUML, which was established in 2005 has over the years become a regional champion in West Africa.

“Ghana is here because of Nigeria’s unique arrangement and role in the region and other countries such as Gambia are also applying to come and learn how the SCUML supervises DNFIs,” he said.